Gift vouchers net An Post €2.5m bonus
Ireland's popular One4All gift voucher scheme has proved to be the gift that keeps on giving for An Post - last year the national postal service raked in an estimated €2.5m in sales commissions from the joint venture.
This is on top of the €1.8m profit it enjoyed in 2015 as majority owner, with a 52pc shareholding, of the firm behind the product, Gift Voucher Shop Designated Activity Company.
Gift Voucher Shop, which employs 72 staff in Ireland and 16 in the UK, said sales in 2016 rose 21pc. It is sitting on accumulated profits of €11.6m. One4all Gift Card sales for the final quarter of 2016 surpassed €96m in Ireland and £37m in the UK.
The biggest increase in 2016 overall was in online sales, which went up by 31pc for the year.
The average value of One4All gift vouchers sold through An Post is €90 and outlets earn a €2.50 commission per purchase. An Post is by far the biggest sales channel for One4all gift cards - more than 60pc - and sales grew by 20pc last year to more than one million gift card sales.
"Gift Voucher Shop is one of our best-performing subsidiaries, alongside the likes of Post Insurance," said an An Post spokeswoman.
Sunday Indo Business